The U.S. economy grew faster than expected in the third quarter of this year, its fastest pace in the last two years. This has provided a bullish outlook for the BTC price, which climbed on the back of the U.S. GDP data release.
U.S. GDP Comes In Stronger Than Expectations, BTC Price Rises
Bureau of Economic Analysis (BEA) data show that the U.S. economy increased at an annual rate of 4.3% in the third quarter of this year. This marks the strongest growth since the fourth quarter of 2023. It also comes in higher than the estimates of 3.3% and the 3.8% recorded in the second quarter. Meanwhile, the real GDP increased by 3.8%.
The U.S. GDP release immediately sparked a surge in the BTC price, with the flagship crypto rising to almost $88,000. CoinGape had earlier reported that the macro data was likely to spark some volatility, even as the crypto market remains on edge.
Source: Yahoo Finance; BTC Daily ChartThis comes as crypto market investors continue to look to macro data for clues as to where the U.S. economy may be headed in 2026. This data follows the release of the U.S. CPI and jobs data last week, which also provided a bullish outlook for the market.
The U.S. CPI data came in at 2.7%, well below expectations, indicating that inflation in the U.S. remains steady. Meanwhile, the jobs data showed the unemployment rate rising, which supports a case for more rate cuts next year and is bullish for the BTC price and broader crypto market.
With the U.S. GDP data out of the way, crypto market investors will now turn their attention to the U.S. jobless claims, which drop tomorrow. This will provide further insights into the current state of the labor market and could strengthen the case for more cuts.
Source: https://coingape.com/u-s-gdp-rises-to-4-3-in-q3-btc-price-climbs/
